Quazi Mohammad Rezwanul Ahsan Nafis , 21, was arrested this morning in downtown Manhattan after he allegedly attempted to detonate what he believed to be a 1,000-pound bomb at the New York Federal Reserve Bank on Liberty Street in lower Manhattan’s financial district.

The suspect was arraigned in federal court in Downtown Brooklyn and remanded without bail.

Agents set up a sting and he was caught and taken into custody according to officials.

Nafis attempted to detonate a van that he thought was laced with the explosives, from a hotel across the street from the World Trade Center site. Nafis also claimed to have overseas connections to Al-Qaeda and had recorded a martyrdom video.

“This individual came here for the purpose of doing a terrorist act,” Police Commissioner Ray Kelly told reporters. “He was motivated by Al Qaeda, so we see this threat as being with us for a long time.”

No word on whether or not the administration will argue Kelly’s claims of a motivation by saying the suspect was angry about an anti-Islam video.

Fortunately, when the President does get around to calling this a terrorist plot two weeks from now, Candy Crowley will be there to hold his hand.

In related news, the President is dropping the phrase ‘Al Qaeda is on the run’ from his campaign speeches.

President Obama may be recalibrating his campaign rhetoric on Al Qaeda, in the aftermath of the Libya terror attack.

Before that attack and as recently as a week ago, Obama had taken to saying Al Qaeda is on the road to defeat. During a Miami stop on Oct. 11, he said: “And today, Al Qaeda is on the run and Osama bin Laden is dead.”

But at the debate Tuesday and on the campaign trail Wednesday, the Al Qaeda reference appeared to have been walked back.